February 21, 2019 | 20:58 (GMT+7)
Hoa Phat exports steel pipe to India for first time
The Hoa Phat Steel Pipe Company Limited has announced the first order to export around 1,000 tons of galvanized steel pipe worth USD 600,000 to India.
This would be the first time Hoa Phat steel pipe has been exported to the Indian market. The export volume includes 400 tons from its Hung Yen plant with the remainder from its Binh Duong plant. The shipment would be delivered in March 2019.
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Hoa Phat exports steel pipe to India for first time. |
India is considered a key market in the Asian region. The export also realized Hoa Phat’s target to diversify its markets.
Hoa Phat’s steel pipe products meet strict requirements imposed by foreign countries such as the US, Canada, the Republic of Korea, Cambodia and Myanmar. It also received orders from US and Canada last month.
Hoa Phat’s total steel pipe output in 2018 reached nearly 800,000 tons, posting a 15 percent year-on-year increase. Of which, its exports rose by 40 percent from the previous year to 18,300 tons.
The company targeted an export turnover increase of 150 to 200 percent this year.
Source: VNA